Take the next STEP 403.457.1772

Dispatch 1.855.480.7837 (STEP)

We provide coiled tubing, pumping and hydraulic fracturing services, but at the heart of it, we deliver collaborative solutions to our clients and help improve their reservoir performance. And we do it better than anyone else.Learn More +

Our company was built on four core values; safety, trust, execution and possibilities. These values provide the foundation of our culture and behaviours, and are the pillars of our client focused service. Learn More +

Safety is one of our core values and is our first priority both in and out of the field. Being safe is a critical part of what we do which is why our HSE program is a fundamental component of our company’s operations.Learn More +

STEP is committed to supporting community initiatives and organizations that exude our core values. Click here to view our ongoing partnerships and how our professionals are helping out in the community.Learn More +

The Exceptional Employee Experience provides an inspiring work environment that rewards performance and encourages pro-active, self-motivated individuals to achieve their success. Check out our current openings and become a STEP professional today. Learn More +

The Exceptional Employee Experience provides an inspiring work environment that rewards performance and encourages pro-active, self-motivated individuals to achieve their success. Check out our current openings and become a STEP professional today. Learn More +

At STEP Energy Services, we are proud of our unique corporate culture. It’s what sets us apart from the competition and has helped us quickly become one of the fastest growing service companies in the energy industry. Learn More +

We provide coiled tubing, pumping and hydraulic fracturing services, but at the heart of it, we deliver collaborative solutions to our clients and help improve their reservoir performance. And we do it better than anyone else.Learn More +

Our company was built on four core values; safety, trust, execution and possibilities. These values provide the foundation of our culture and behaviours, and are the pillars of our client focused service. Learn More +

Safety is one of our core values and is our first priority both in and out of the field. Being safe is a critical part of what we do which is why our HSE program is a fundamental component of our company’s operations.Learn More +

STEP is committed to supporting community initiatives and organizations that exude our core values. Click here to view our ongoing partnerships and how our professionals are helping out in the community.Learn More +

The Exceptional Employee Experience provides an inspiring work environment that rewards performance and encourages pro-active, self-motivated individuals to achieve their success. Check out our current openings and become a STEP professional today. Learn More +

The Exceptional Employee Experience provides an inspiring work environment that rewards performance and encourages pro-active, self-motivated individuals to achieve their success. Check out our current openings and become a STEP professional today. Learn More +

At STEP Energy Services, we are proud of our unique corporate culture. It’s what sets us apart from the competition and has helped us quickly become one of the fastest growing service companies in the energy industry. Learn More +

Calgary, Alberta – December 1, 2017 – STEP Energy Services Ltd. (the “Company” or “STEP”) announced today the successful closing of its secondary offering (the “Offering”) of common shares of the Company by the limited partnerships comprising ARC Energy Fund 6 and ARC Energy Fund 8 (collectively, the “Selling Shareholders), at a price of $12.25 per share (the “Offering Price”). The Selling Shareholders sold 5,307,000 common shares under the Offering for total gross proceeds to the Selling Shareholders of $65,010,750. STEP did not receive any proceeds from the Offering.

The Offering was made through a syndicate of underwriters on a bought deal basis led by CIBC Capital Markets Inc. as sole bookrunner and Peters & Co. Limited as co-lead underwriter (the “Underwriters”).

The Underwriters were granted an over-allotment option (the “Over-Allotment Option”) to purchase an aggregate of up to an additional 796,050 common shares of the Company from the Selling Shareholders at the Offering Price. The Over-Allotment Option can be exercised at any time, in whole or in part, for a period of 30 days from the date hereof and is subject to customary closing conditions. The Company will not receive any proceeds in connection with any exercise of the Over-Allotment Option.

No securities regulatory authority has either approved or disapproved of the contents of this press release. This press release is not for distribution, directly or indirectly, in or into the United States (including its territories and possessions, any state of the United States and the District of Columbia) or any other jurisdiction outside Canada. This press release does not constitute or form a part of any offer or solicitation to buy or sell any securities in the United States or any other jurisdiction outside of Canada. The securities have not been and will not be registered under the United States Securities Act of 1933, as amended (the “U.S. Securities Act”), or the securities laws of any state of the United States and may not be offered or sold within the United States or to or for the benefit of a United States person absent registration or pursuant to an available exemption from the registration requirements of the U.S. Securities Act and applicable state securities laws. There will be no public offering of securities in the United States.

FORWARD-LOOKING STATEMENTS

This press release contains forward-looking statements that involve known and unknown risks and uncertainties, most of which are beyond the Company’s control. The forward-looking statements contained in this press release include, but are not limited to, those relating to the exercise by the Underwriters of the Over-Allotment Option. Should one or more of the risks or uncertainties underlying these forward-looking statements materialize, or should assumptions underlying the forward-looking statements prove incorrect, actual results could vary materially from those expressed or implied by the forward-looking statements. Accordingly, undue reliance should not be placed on these forward-looking statements. The forward-looking statements contained herein are made as of the date of this press release and, other than as required by applicable securities laws, the Company does not assume any obligation to update or revise it to reflect new events or circumstances. The forward-looking statements contained in this press release are expressly qualified by this cautionary statement.

ABOUT STEP

STEP Energy Services is an oilfield service company founded in 2011 that provides fully integrated coiled tubing and fracturing solutions. The Company’s combination of modern, fit‐for‐purpose fracturing and coiled tubing equipment has differentiated STEP in plays where wells are deeper, have longer laterals, and higher pressure.

Initially operating only in Canada as a specialized, deep capacity coiled tubing company, in 2015 STEP expanded into the United States and also began offering fracturing services to our Canadian clients. Currently, STEP is a fully integrated, deep capacity coiled tubing and fracturing solutions provider focused primarily in the Montney and Duvernay in Canada, and a coiled tubing services provider in the United States with operations in the Permian and Eagle Ford in Texas and the Haynesville in Louisiana. The Company’s continuing track record of safety, efficiency and execution drives repeat business from blue‐chip exploration and production clients.

What does STEP Mean?

What We Do

We are the experts in applying fit-for-purpose coiled tubing, pumping and hydraulic fracturing technology to increase reservoir performance in well stimulation and intervention projects for clients operating in unconventional oil, gas, and liquids rich plays in North America.